Selling a Company Advice
Selling an Unemployment Insurance Consulting Business
Many business leaders say that now isn't the time to try to sell an unemployment insurance consulting business. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your unemployment insurance consulting business on the market.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an unemployment insurance consulting business sale works.
Growth-minded entrepreneurs also find an appealing unemployment insurance consulting business hard to pass up. So for unemployment insurance consulting business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Moving On
So you've decided to sell your unemployment insurance consulting business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
The Best Person to Sell Your Unemployment Insurance Consulting Business
There are benefits and drawbacks to handling the sale of your unemployment insurance consulting business on your own. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. At a minimum, conduct an independent appraisal of the unemployment insurance consulting business to gain an objective sense of fair market value.
Business Valuation
The methods for valuing an unemployment insurance consulting business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. All three methods have multiple variations and it's not uncommon for appraisers to use a combination of the three to determine the value of your business. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
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